Related Commentary  Related CasesRelated HMRC Manuals

68(1)  This section explains how the farming or market gardening activities (“the activities” ) meet the reasonable expectation of profit test for the purposes of section 67.

68(2)  The test is decided by reference to the expectations of a competent farmer or market gardener (a “competent person” ) carrying on the activities.

68(3)  The test is met if–

(a)a competent person carrying on the activities in the current tax year would reasonably expect future profits (see subsection (4)), but

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